Rekindled interest rate concerns gave the Dax a weak start to the week on Monday. In addition, some investors cashed in after the strong run of the last few weeks. The leading German index extended its initial loss and was down 1.16 percent at 15,296.52 points around noon. The MDax for medium-sized companies fell by 1.73 percent to 29,263.81 points, and the Eurozone leading index EuroStoxx lost 1.53 percent to 4192.72 points.
Rekindled interest rate concerns gave the Dax a weak start to the week on Monday. In addition, some investors cashed in after the strong run of the last few weeks. The leading German index extended its initial loss and was down 1.16 percent at 15,296.52 points around noon. The MDax for medium-sized companies fell by 1.73 percent to 29,263.81 points, and the Eurozone leading index EuroStoxx lost 1.53 percent to 4192.72 points.
After the publication of business figures, the focus on the German market was on the Aurubis copper group, whose shares lost 5.4 percent at the end of the MDax. In view of the higher prices for their products, the Hamburg company is now more optimistic for the current financial year and sees operating profit before tax at the upper end of its target range. Although this had fallen in the past quarter, it was still well above the value of two years ago and the average analyst estimate.
Index neighbor Carl Zeiss Meditec recently fell by 2.5 percent. Here, a confirmed buy recommendation from Hauck & Aufhäuser helped cushion the canceled buy vote of the private bank Berenberg somewhat.
Some technology and Internet stocks were also sold in the wake of the Nasdaq: After a good run in the past few weeks, the online fashion retailer Zalando and the chip company Infineon were among the biggest Dax losers with discounts of 4.5 and 2.9 percent. The online broker Flatexdegiro and Shop Apotheke showed a similar picture in the SDax small-cap index.
On the other hand, the upward trend in the SDax leader Deutz continued: With an increase of 2.8 percent to 5.325 euros, the shares of the engine manufacturer expanded their profits in the still young year to over 30 percent.
Bayer’s shares were also sought after after initial difficulties: They gained one percent as the best value in the Dax. According to a report in the “Handelsblatt”, the activist investor Bluebell is rallying allies to push through his demands for changes at the pharmaceutical and agrochemical company.
Source: Stern
